Freeport-McMoRan Inc [FCX] is -10.71% lower this YTD. Is it still time to buy?

Freeport-McMoRan Inc [NYSE: FCX] traded at a high on 11/10/23, posting a 1.32 gain after which it closed the day’ session at $33.68. The company report on October 30, 2023 at 12:27 PM that Richard C. Adkerson Inducted into the National Mining Hall of Fame.

Freeport-McMoRan Inc. (NYSE: FCX) today announced Richard C. Adkerson, Chairman and Chief Executive Officer, has been inducted into the National Mining Hall of Fame in recognition of his contributions to the global mining industry.

Elon Musk just Triggered a BOOM in These Stocks

Something strange is happening in the stock market…. This select group of stocks are going absolutely bananas. And it's all because of Elon Musk. Get your copy of "Top 5 Tech Stocks to Buy in 2024"

Click Here to Download the FREE Report.


Adkerson is a long-standing member and past chair of the International Council on Mining and Metals (ICMM), where he has championed initiatives to strengthen environmental and social performance in the mining industry. He is the only person to have served two full terms as Chairman of ICMM.

The results of the trading session contributed to over 9909365 shares changing hands. Over the past one week, the price volatility of Freeport-McMoRan Inc stands at 2.71% while the volatility over the past one month is 2.75%.

The market cap for FCX stock reached $48.30 billion, with 1.43 billion shares outstanding and 1.41 billion shares in the current float. Compared to the average trading volume of 9.90M shares, FCX reached a trading volume of 9909365 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Freeport-McMoRan Inc [FCX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FCX shares is $46.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FCX stock is a recommendation set at 2.05. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Freeport-McMoRan Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 17, 2023.

The Average True Range (ATR) for Freeport-McMoRan Inc is set at 1.04, with the Price to Sales ratio for FCX stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 2.93, with the Price to Cash per share for the same quarter was set at 4.49. Price to Free Cash Flow for FCX in the course of the last twelve months was 93.06 with Quick ratio for the last quarter at 1.67.

How has FCX stock performed recently?

Freeport-McMoRan Inc [FCX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.18. With this latest performance, FCX shares dropped by -6.63% in over the last four-week period, additionally sinking by -3.37% over the last 6 months – not to mention a drop of -0.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FCX stock in for the last two-week period is set at 40.51, with the RSI for the last a single of trading hit 41.07, and the three-weeks RSI is set at 40.33 for Freeport-McMoRan Inc [FCX]. The present Moving Average for the last 50 days of trading for this stock 36.63, while it was recorded at 33.99 for the last single week of trading, and 38.95 for the last 200 days.

Freeport-McMoRan Inc [FCX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Freeport-McMoRan Inc [FCX] shares currently have an operating margin of +32.36 and a Gross Margin at +34.68. Freeport-McMoRan Inc’s Net Margin is presently recorded at +14.83.

Return on Total Capital for FCX is now 22.01, given the latest momentum, and Return on Invested Capital for the company is 14.19. Return on Equity for this stock inclined to 23.44, with Return on Assets sitting at 6.98. When it comes to the capital structure of this company, Freeport-McMoRan Inc [FCX] has a Total Debt to Total Equity ratio set at 70.41. Additionally, FCX Total Debt to Total Capital is recorded at 41.32, with Total Debt to Total Assets ending up at 21.44. Long-Term Debt to Equity for the company is recorded at 63.50, with the Long-Term Debt to Total Capital now at 37.26.

Reflecting on the efficiency of the workforce at the company, Freeport-McMoRan Inc [FCX] managed to generate an average of $135,195 per employee. Receivables Turnover for the company is 13.19 with a Total Asset Turnover recorded at a value of 0.47.Freeport-McMoRan Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.67 and a Current Ratio set at 2.90.

Earnings analysis for Freeport-McMoRan Inc [FCX]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FCX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Freeport-McMoRan Inc go to -14.34%.

Insider trade positions for Freeport-McMoRan Inc [FCX]

The top three institutional holders of FCX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in FCX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in FCX stock with ownership which is approximately 5.7994%.